Construction Industry Scheme Tax JDH Accountants & Bookkeeping

construction bookkeeping

Subcontractors do not have to write, but deductions are taken from their payments at a higher rate if they are not registered. At Cubed Consultancy, understand the construction industry is different from other industries, which is why we focus on providing a completely tailored solution for all our client’s business needs. You need financial experts who understand the construction business, and we’re here to help. We offer a complete range of accounting and finance services to help you achieve your corporate goals. There are no laws to stop you carrying out construction accounting yourself.

For those of you who are self-employed with regular CIS deductions made against your sales, we offer to prepare your accounts and tax returns early in the year (April onwards), as you usually will get a tax refund. Bring your information in as early as possible and we will do the rest. Simply provide the list of contractors CIS statements (if applicable), the list of subcontractors – along with their UTR, NI number and their invoices and let us do the rest.


On the surface, double-entry bookkeeping may sound complicated, but it is a more structured and systematic approach and gives you a more comprehensive view of your accounts. Accounting is bigger picture – it’s about analysing the financial data and using it to plan and forecast. The Accountant creates reports from the recorded Financial Statements recorded by the Bookkeeper and file forms with Government Agencies. An Accountant may prepare the Income Statement and Balance Sheet using the Trial Balance and Ledgers prepared by the Bookkeeper. We Maximise How Much of Your Hard Earned Cash Stays in Your Bank Account. We will work with you to review the allowances and exemptions that you qualify for and craft the most efficient tax planning for your situation based on this criteria.

What are the 5 major accounts in bookkeeping?

The 5 primary account categories are assets, liabilities, equity, expenses, and income (revenue)

This means you can be better equipped to effectively manage and oversee cash flow. A Bookkeeper is a person who records the day-to-day financial transactions of a business trade. The Bookkeeper is responsible for ensuring that all transactions are bookkeeping for startups recorded in the correct Ledger, Customer Ledger, Suppliers Ledger and General Ledger. Track bank balances, overdue sales receipts from clients and contractors and the payments you are due to make to sub-contractors and suppliers in real-time.

Level 2 Certificate in Computerised Payroll for Business (601/0476/ Self-Study Registration

We ensure your accounting system and accounting software are effective and efficient. And as well as taking care of your core accounting functions, we provide proactive support to help you grow. If you’re self-employed, you can find out which records you need here. If you run a limited company, you can see your record requirements here.

If you are a small business, a single individual may be able to take care of all the above. However, larger businesses may need a team to take care of the different finance roles. As an employer, you’ll have to deduct tax and NICs from your employees’ pay each pay period and pay Employer’s Class 1 NICs if they earn above a certain threshold. It is because we recognise that every business is unique and requires tailored services that it makes us the best at what we do. Accurate foresight on your tax bills allows you to plan ahead and put money aside for when the tax bill is due, so you can rest easy knowing you have everything covered. Who will bring you improved LIVE financial visibility and keep you aware of what’s happening in your business,call CJ Bookkeeping Ltd.

Remove the time and effort to manage your payroll and make your sites more productive with a happy workforce

This software will help you to keep on top of your day-to-day finances. Although it is possible to keep paper-based records or use a basic spreadsheet to record transactions, there are so many benefits to using cloud-based construction accounting software. If you really struggle with bookkeeping, it might be worth your while to invest in the services of an accountant.

  • Whether you are a residential or commercial property investment firm, Bryden Johnson will help you manage your accounting, bookkeeping and taxation concerns.
  • Bryden Johnson has provided over 125 years of accountancy and business support services to established, high growth and start up organisations across Croydon, South London, Surrey, Kent and the rest of the UK.
  • The first step is understanding your business and your goals so we can create a finance package that works for you.
  • Richard and Mark have gone on to quickly build a very successful business after bringing their years of experience and different skills together.
  • You can choose to use certain software solutions, apps or a simple Excel spreadsheet.

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